The state of Pennsylvania follows the general federal law regarding the bankruptcy procedures. These Pennsylvania bankruptcy records are available through different gazettes and websites of the Pennsylvania courts. Most of these websites are government run and thus people who are looking for the Pennsylvania federal bankruptcy records get accurate and proper information on Pennsylvania records and Pennsylvania bankruptcy courts. These websites are equipped with easy search options that help you to get the particular and accurate Pennsylvania bankruptcy record very easily and quickly as well. Almost all the cities of Pennsylvania have courts where a person can file for bankruptcy or find Pennsylvania bankruptcy records.
The benefit to having bankruptcy records is that if you are going to invest in a company, or if you're looking to buy from one, you can find out what a company's bankruptcy history is, which will give you a good idea as to whether or not they are worth investing in. This is especially useful since the bankruptcy proceedings regarding smaller companies rarely make the news - and you probably will not have heard that a particular company has ever gone bankrupt. These records will have detailed information about the bankruptcy proceedings, so you can find out what to expect if you end up doing business with that particular company.
Also since the information is public, you cannot easily hide that information from a future creditor.
Typical information that can be found on Pennsylvania county bankruptcy records includes: name, business name, address, bankruptcy type (Chapter 7 Bankruptcy, Chapter 11 Bankruptcy, or Chapter 13 Bankruptcy), property involvement, whether or not the bankruptcy was dismissed or discharged, and more.
The most common chapters that are used for the bankruptcy cases are chapter 7, chapter 11 and chapter 13. However at times some other chapters are also used. These chapters are chapter 9, chapter 12 and chapter 15.
Chapter 7 is used when the case requires liquidation of assets. The liquidation procedures are available for companies, corporate, individuals, couples and partners. The term liquidation states that the court will order to sell everything that the debtors have to pay off the creditors.
Chapter 11 of the federal bankruptcy law states that the bankruptcy procedures to be done by reorganization of the company. The chapter 11 is applicable for companies, business houses, corporate and partnership businesses. The debtor may propose a plan to reorganize the company in order to pay off the debts. But this would not include selling off properties of company to pay off the debts. The dues will be paid over time.
Chapter 13 of the federal bankruptcy law states that the debts will be adjusted in order to pay off the creditors. But according to chapter 13 the debtor must have a source of earning to pay off the adjusted debt. This takes around three to five years to pay off debts.
Chapter 9 involves municipality bankruptcy. This includes reorganization of municipalities that include towns, villages, counties, school districts and cities.
Chapter 12 of the bankruptcy law involves the adjustment of the debts of the farmers and their family or fishermen.
Chapter 15 is absolutely a new law introduced in the federal bankruptcy. It deals with the cross border or other ancillary cases.
The Pennsylvania Bankruptcy Records show that the state has a low rate of bankruptcy filings in comparison to the other states of the America. Although the state has many cities the number of Pennsylvania bankruptcies is quite low. According to the latest data the number of bankruptcy cases in the year 2008 was more than 29,962. This figure amounts to around 3% of the total bankruptcy cases filed in the United States of America for the year 2008. This makes the state of Pennsylvania stand at rank 26th among the 51 districts of America.
Locate Pennsylvania Bankruptcy Cases Online
The Pennsylvania bankruptcy search shows that the Pennsylvania bankruptcy files have been increasing lately. The Pennsylvania Bankruptcy Records reveal that the total figure of the year 2008 shows a good increase of bankruptcy cases from the previous year. According to the court records the total bankruptcy cases that have been filed in 2007 in US were 751,056. But the number walloped to 967,831 in 2008 nationwide. This implies that the case of bankruptcy that has been filed nationwide has increased to 28.9% on the whole.
It is also interesting to note that since this state rate low in the amount of bankruptcy filings, the cases are sorted out pretty quickly. In the case dated April 16, 2007 involving the appellee Chris J. Brodmerkel and Rebecca S. Brodmerkel against Ocwen Federal Bank, the presiding judge Gary L. Lancaster of Pennsylvania Western District Court gave the order in the appellee's favor in the same year itself. This was numbered 2:2007cv00504.
The same was ordered in the case of Jody Benninger against Albert E. Cuneo in the Pittsburgh Office of Pennsylvania West District Court by presiding judge Gary L. Lancaster.The case was files in March 21, 2007 under the number 2:2007cv00366.
Pennsylvania Western District Court reports a case in Johnstown Office where the appellee James R. Walsh took the defendant Barbara M. Grabill to bankruptcy court to suit a file against heron September 4, 2009 under file 3:2009cv00238. Presided by Kim R. Gibson, this case is still in hearing.
More recently in a controversial family case, Tracy Blackburn filed bankruptcy law-suit against Terry Blackburn on September 11, 2009. The case is numbered 2:2009cv01233 and is presided by Terrence F. McVerry of Pennsylvania Western District Court.
Pennsylvania Bankruptcy public records provide an excellent tool in finding information out about people and businesses alike. It will find you previously recorded Bankruptcy public records, as well as new Bankruptcy public records for the entire state of Pennsylvania, as they are added weekly, to give you the best chance of finding the information you seek.